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Tag Archives: oil production
BBC News – Why is Saudi Arabia using oil as a weapon?
BBC News – Why is Saudi Arabia using oil as a weapon?. A recent meeting in Vienna, between the member states of Opec finally uncovered what the world had expected for months. Saudi Arabia is playing politics with oil, forcing Opec to maintain its current production levels at 30m barrels per day, to force down the […]
Saudi Arabia Declares Oil War on US Fracking, hits Railroads, Tank-Car Makers, Canada, Russia; Sinks Venezuela | Wolf Street
Saudi Arabia Declares Oil War on US Fracking, hits Railroads, Tank-Car Makers, Canada, Russia; Sinks Venezuela | Wolf Street. When OPEC announced on Thanksgiving Day that it would maintain oil production at 30 million barrels per day, chaos broke out in the oil market, and the price of oil around the globe spiraled into a […]
EXCLUSIVE-October oil shale permits drop: is the slowdown here?
EXCLUSIVE-October oil shale permits drop: is the slowdown here?. NEW YORK, Dec 1 (Reuters) – U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. But new data suggests that the much-anticipated slowdown in shale country may have finally arrived. Permits […]
OPEC Inaction Spurs Survival of Fittest as Oil Below $65 – Bloomberg
OPEC Inaction Spurs Survival of Fittest as Oil Below $65 – Bloomberg. West Texas Intermediate tumbled below $65 a barrel to the lowest level since July 2009 amid speculation prices have further to drop before OPEC’s decision to maintain output slows U.S. shale supply. Benchmark futures in New York and London slumped as much as 3.7 percent, […]
Resource Insights: Turnabout: OPEC shows U.S. oil producers who’s boss
Resource Insights: Turnabout: OPEC shows U.S. oil producers who’s boss. To paraphrase Mark Twain: Rumors of OPEC’s demise have been greatly exaggerated. Breathless coverage of the rise in U.S. oil production in the last few years has led some to declare that OPEC’s power in the oil market is now becoming irrelevant as America supposedly […]
‘We Are Entering A New Oil Normal” | Zero Hedge
‘We Are Entering A New Oil Normal” | Zero Hedge. Investment Observations The precipitous decline in the price of oil is perhaps one of the most bearish macro developments this year. We believe we are entering a “new oil normal,” where oil prices stay lower for longer. While we highlighted the risk of a near-term decline in […]
Big Oil Going Big In The Gulf Of Mexico
Big Oil Going Big In The Gulf Of Mexico. The oil industry is betting big on the Gulf of Mexico with both costs and production rising as a result. The Gulf has seen a bit of a resurgence in production this year, after declining from a peak in 2009. The oil industry extracted 1.7 million […]
The Price Of Oil Exposes The True State Of The Economy – The Automatic Earth
The Price Of Oil Exposes The True State Of The Economy – The Automatic Earth. We should be glad the price of oil has fallen the way it has (losing another 6% today as I write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other […]
RIGZONE – The US Energy Infrastructure: Is it Safe?
RIGZONE – The US Energy Infrastructure: Is it Safe?. First, the good news regarding energy transportation in the United States: about 99.5 percent of all material transported by either railroad cars or by pipelines reaches its destination. However, the accident rate is still too high, and it is even up slightly for gas liquids, even […]
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge. Who could have seen this coming? With oil prices holding at 4-year lows, heavily pressuring around half of US shale production economics, the “secret” US deal (see hereand here) with Saudi Arabia to crush Russia via oil over-supply […]
Its Grip on Oil Weakening, OPEC Will Meet on Prices – NYTimes.com
Its Grip on Oil Weakening, OPEC Will Meet on Prices – NYTimes.com. LONDON — As oil prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets. At its meeting on Thursday in Vienna, the Organization of the Petroleum Exporting Countries, the group of 12 oil producing nations, is under pressure […]
Challenging (Crude) Convention | Daniel Davis
Challenging (Crude) Convention | Daniel Davis. Media reports regarding the American crude oil industry have been uniformly positive in the past few months. Oil prices have dropped to their lowest level since 2010 and along with it prices at the pump. According to some reports, the US now produces as much or more oil than either Saudi Arabia or Russia. As […]
Russia Might Be Forced To Cut Oil Production
Russia Might Be Forced To Cut Oil Production. Russian Energy Minister Alexander Novak says Moscow is considering a possible cutback in oil production to help end the drop in prices, but there appears to be little it can do without harming its own energy sector. “The issue [of production cuts] requires careful consideration,” Novak told reporters in […]
OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg
OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg. The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group’s meetings. The global glut of crude, which has […]
The US Shale Breakeven Price Debate
The US Shale Breakeven Price Debate. My favorite quote by H.L. Mencken is ‘a cynic is a man who, when he smells flowers, looks around for a coffin‘. A bit morose, I know, but this appeals to the contrarian in me. My second favorite is überly-applicable to US shale oil break-evens: ‘For every complex problem […]
